Cathie Woods ARK buys additional Tesla and Roblox shares, while selling Coinbase and DraftKings
On March 25th, Cathie Wood's ARK Fund made significant moves in the market, including large purchases of Tesla and Roblox shares, while selling a large number of Coinbase and DraftKings shares.
On March 25th, Cathie Wood's ARK Fund made significant moves in the market, including large purchases of Tesla and Roblox shares, while selling a large number of Coinbase and DraftKings shares.
The biggest deal of the day was ARK's purchase of 163,421 shares of Tesla, worth approximately $27.92 million. This move demonstrates ARK's continued confidence in the electric car giant, which has long been a hallmark company in its investment strategy.In the gaming industry, ARK purchased 740,115 shares of Roblox, with a total value of approximately $27.58 million. Roblox's unique platform allows users to create and play games, making it increasingly popular, and ARK's investment may be a bet on the company's continued expansion.
In terms of selling, ARK sold Robinhood Markets shares worth approximately $30 million. This sale may indicate a change in ARK's outlook on the online brokerage platform, which has suffered a series of setbacks in recent months.
DraftKings is also on ARK's sell list, with a total of 267,633 shares of DraftKings sold for a total of $12.63 million. This online sports betting company has been part of ARK's portfolio, but this sale may indicate a change in ARK's assessment of the company's prospects, or simply a rebalancing of assets.
Coinbase was another significant sale, with ARK selling 74,291 shares of Coinbase for $18.98 million. Considering the volatility of the cryptocurrency market, this move may be interpreted as ARK taking a more conservative approach towards the cryptocurrency trading platform.
ARK also purchased shares of Iridium Communications, Kratos Defense & Security Solutions, and Moderna, paying $2.32 million, $0.3 million, and $1.36 million, respectively. These investments involve the communications, defense, and biotechnology industries, demonstrating ARK's diverse approach to innovation-focused investments.
Investors tracking ARK's transactions can see that its strategy remains focused on disruptive innovation, while also responding to market trends and company performance.
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